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ESCB Challenges for Monetary Policy Transmission in a Changing World (ChAMP) Research Network

2nd Workshop of Workstream 2: Transmission through the real economy

Oesterreichiche Nationalbank

Wien, 2 February 2024

The Oesterreischische Nationalbank is hosting the second Workshop of the ChaMP ESCB research network, focusing on the topics covered by the 2nd workstream of that network on 2 February 2024. This will give us the opportunity to meet again and discuss some of the ongoing projects.

Programme

* indicates the presenter

8:15

Registration

8:45

Welcome

Anna Stelzer and Philipp Hartmann

 

Session 1: Implications for Monetary Policy from structural change

Chair: Philipp Hartmann, ECB

9:00

Global supply chain pressures, inflation, and implications for monetary policy

Guido Ascari*, Dennis Bonam and Andra Smadu, all De Nederlandsche Bank

9:45

Climate-conscious monetary policy 

Anton Nakov*, ECB, and Carlos Thomas, Banco de España

10:30

Coffee break

 

Session 2: Effects of Monetary Policy on the real economy 

Chair: Gonzalo Paz-Pardo, ECB

10:45

How do Monetary Policy, Monetary Policy Shocks and Financial Frictions disturb Total Factor Productivity? 

Norbert Ernst, Karin Klieber, Michael Sigmund* and Maria Valderrama, all Oesterreichische Nationalbank

11:30

Monetary Policy and Market Competition: Is Europe Different? 

Alexander Popov*, ECB, and Lea Steininger, HU Berlin & WU Vienna & Vienna Institute for International Economic Studies

 12:15

Lunch and poster session 

 

Poster presentations

 
Do Recessions Slow Technology Growth? Evidence from the Firm Level
  • Michaela Elfsbacka Schmöller, Suomen Pankki – Finlands Bank
  • Olga Goldfayn-Frank, Deutsche Bundesbank
  • Tobias Schmidt, Deutsche Bundesbank
 
The Green Transition and Firms’ Expectations on Future Prices: Survey Evidence 

Cristina Angelico, Banca d’Italia

 
Exports, Imports and Productivity: Investment with Heterogeneous Firms

Volha Audzei, Jakub Mateju and Ivan Sutóris, all Česká národní banka

 
A Heterogeneous Agent Model of Energy Consumption and Energy Conservation 

Volha Audzei and Ivan Sutóris, Česká národní banka

 

Session 3: Input-Output models 

Chair: Emmanuel Dhyne, Nationale Bank van België/Banque Nationale de Belgique

13:45

World Input-Output Matrix of Investment Goods 

Javier Quintana*, Banco de España

14:30

Estimating the loss of economic predictability from aggregating _rm-level production networks 

  • Christian Diem, Vienna University of Economics and Business
  • András Borsos, Magyar Nemzeti Bank and Central European University
  • Tobias Reisch, Medical University of Vienna
  • János Kertész, Central European University
  • Stefan Thurner, Medical University of Vienna
15:15

Coffee break

 

Session 4. Phillip’s Curves 

Chair: Birgit Niessner, Oesterreichische Nationalbank

15:30

Job Polarization, Labor Market Fluidity and the Flattening of the Phillips Curve 

Daniele Siena, Politecnico di Milano, and Riccardo Zago*, Banque de France

16:15

Not all supply curves slope up 

  • Edvin Ahlander, Sveriges Riksbank
  • Mathias Klein, Sveriges Riksbank
  • Evi Pappa, Carlos III University
17:00

Closing remarks

Emmanuel Dhyne, Nationale Bank van België/Banque Nationale de Belgique